Category: Income Tax
Presumptive Tax u/s 44AE-Heavy Vehicle weight to be used, gross, laden or unladen. CBDT clarification for computing profits and gains of heavy goods vehicle F.No.225/233/2019/ITA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 14th August,2019 ToThe Secretary GeneralAll India Motor Transport Congress New Delhi Sir, Subject: …
All Pending appeal to be withdrawn after increase in Monetary Limits-CBDT Clarification. All pending SLPs/ appeals/ cross objections/references to be withdrawn till 31.10.2019 F. No. 279/Mis/M-93/ 2018-ITJGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxs******* Room No. 12, 5th Floor, Jeevan Vihar Building,Parliament Street, New Delhi.Dated …
Treatment of Farm-in expenditure incurred by the Oil Exploration and Production (E&P) Companies-Clarification by CBDT Circular No. 20 /2019 Government of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes New Delhi, dated 19th August, 2019 Subject: – Clarification regarding treatment of Farm-in expenditure incurred by …
Verification Cash deposits during demonetisation period to undergo sharp scanner during scrutiny assessment. CBDT issues detailed instructions/checklist for help of AOs. The demonetisation period falls in the FY 2016-17 (i.e. AY 2017-18) and the deadline for completion of the scrutiny assessment of the same is 31st December, 2019. …
Revision u/s 263 merely on ground of non-discussion / non-mentioning of reply to queries in assessment proceeding/order is invalid ABCAUS Case Law Citation:ABCAUS 3123 (2019) (08) HC Important case law relied upon by the parties:Malabar Industrial Company vs. CIT (2000) 109 taxman 66 (SC)CIT vs. Krishan Capbox Ltd. …
Incriminating documents belonging to or containing information pertaining to assessee. The High Court explains the amendment made in section 153C ABCAUS Case Law Citation:ABCAUS 3122 (2019) (08) HC Important case law relied upon by the parties: Pepsi Foods Pvt. Ltd. v. Assistant Commissioner of Income Tax (2014) 367 …
Checklist for submitting ITR7 for AY 2019-20 to avoid common mistakes in return preparation which may impact uploading of the ITR or processing of the ITR later Income Tax Department has come up with a checklist for assisting tax payers in preparation and filing of ITR-7 Income Tax …
Proceedings initiated u/s 148 instead of section 153C quashed. ITAT explains the difference between jurisdiction under both sections ABCAUS Case Law Citation:ABCAUS 3121 (2019) (08) ITAT Important case law relied upon by the parties:National Thermal Power Co. Ltd., Vs. CIT (SC).Smt.Archana Pandey Vs. ITO (2013) F G. Koteshwara …
No Income tax communications to be issued without a computer-generated Document Identification Number (DIN) on or after 15.10.2019 Circular No. 19/2019 Government of India Ministry of Finance Department of RevenueCentral Board of Direct Taxes New Delhi, dated the 14th August, 2019 Subject: Generation/Allotment/Quoting of Document Identification Number in …
CBDT has made 457 Transfers/Postings in the grade of Additional/Joint Commissioner of Income Tax (CIT). The Transfer/Postings have been made under the following categories (a) Promotion cases 182 (b) Mandatory Transfer cases 11 (c) Request cases 57 (d) Review cases 45 (e) Other cases 11 (f) Vigilance Directorate …
